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Hero Node - Due diligence #120

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icochecker opened this Issue May 4, 2018 · 14 comments

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@icochecker
Collaborator

icochecker commented May 4, 2018

Hero Node (HER)

telegram-chat Main group chat

telegram-chat Group chat 2

‼️ Rogue Admin stole 500 ETH ‼️

(See comments below)

Whois lookup for HERONODE.IO

Domain Name: HERONODE.IO
Registry Domain ID: D503300000056700040-LRMS
Registrar WHOIS Server:
Registrar URL: https://www.gandi.net/whois
Updated Date: 2018-03-30T12:07:01Z
Creation Date: 2017-12-20T08:05:34Z
Registry Expiry Date: 2018-12-20T08:05:34Z
Registrar Registration Expiration Date:
Registrar: Gandi SAS
Registrar IANA ID: 81
Registrar Abuse Contact Email: abuse@support.gandi.net
Registrar Abuse Contact Phone: +33.170377661
Reseller:
Domain Status: clientTransferProhibited https://icann.org/epp#clientTransferProhibited
Registrant Name: 刘国平 刘
Registrant Organization:
Name Server: F1G1NS2.DNSPOD.NET
Name Server: F1G1NS1.DNSPOD.NET
Name Server: NS-242-B.GANDI.NET
DNSSEC: unsigned

Team

Consultant

Company

HERO NODE FOUNDATION LTD.

Registered Address:
9, TEMASEK BOULEVARD
04-02
SUNTEC TOWER TWO
SINGAPORE 038989

UEN: 201805833C
Industry: COMPUTER PROGRAMMING, CONSULTANCY AND RELATED ACTIVITIES
Company Type Description: EXEMPT PRIVATE COMPANY LIMITED BY SHARES
Incorporation Date: 14 Feb 2018
Status: LIVE COMPANY

heronode-singapore

Linkedin company profile

heronode-linkedin

Smart contract

Github

Commits

Product

Demo

heronode-demo

Mainnet in 2019

heronode-mainnet-2019-1
heronode-mainnet-2019-2

Hero CLI

Vesting

  • Team tokens vest over 2 years but not coded in the smart contract.

Additional info

Token distribution

hero-node-allocation

Token allocation

heronode-distribution

Q&A

1. Where is your company registered? Could i have a copy of certificate of incorporation, list of directors and details of registered office address?

HERO NODE FOUNDATION LTD.
UEN:201805833C
9 TEMASEK BOULEVARD #4-2 SUNTEC TOWER TWO

You can check it in website (singapore offical)

2. Can i have details of any intellectual property which the company has created, registered or applied to register?

You can check it on website (singapore offical)

3. Can you share your Cap Table?

No, I can't share it

4. Has there been any change in the shareholders in the past 12 months? If so what and why?

Yes, Conrerstone invest

5. Has there been any change in the board of the company in the past 12 months? If so who and why?

Yes, Conrerstone invest

6. Who are the founding team members? What is the citizenship of the founding team? Has the founding team changed in anyway in the past 12 months? If so who and why?

Me Chinese
NG RUENN CHONG SINGAPORE
No

7. In your team who is a part time employee?

Eric Clark Su
Gina Li
Lilian Lin (full time but in our cornerstone investor company, We are a engineer team)

8. Does any of the founding team members have any involvement in helping raise capital for other token projects? Is the person in question regulated to do so?

Full time,No
Part Time, May be.

9. How much money has the company raised (equity/token) and over what period?

cornerstone investor 3000 ETH
private stage 9000 ETH
public sale 19000 ETH
(That is a estimate,We will produce a detailed report,But not from me)

10. What is your company's cash burn rate?

100K USD /month (estimate)

11. Is your company GDPR compliant?

I want to do that,But now I donot know.

12. What is the vesting schedule for Team and Advisors token?

Two years, No Advisors token.

13. Is vesting for Team and Advisors coded in the smart contract?

No, But will public the address .

14. is your smart contract deployed for the ICO?

Yes

15. Was your smart contract audited by an independent cybersecurity company? If yes by whom?

Yes, Standar Token (They donot want to check)

16. Could i have a link to your github repo?

on our website

17. Do you have a working product on a testnet? Will mainnet be launched before the crowdsale?

on our website

18. Has the code for your product been published, and has is it been audited by an independent cybersecurity company? If yes by whom?

Yes, No

19. Are you using a reputable 3rd party for KYC verification? How safe is it to upload my Identity Document on your site?

Thanks for advice. But Sorry for not

20. Can us investors participate in the sale? If yes did you secure Reg-D?

No.

Heronode Flags

Real Team: - More proof needed to verify that all team members work for Hero Node.
GitHub:
Smart Contract:
Working Product (Mainnet): Heronode is under development.
+2 yr Vesting for team: Team tokens vest over 2 years but not coded in the smart contract.
Have a company:
Transparent:

IcoCheck.io

@imivi52

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imivi52 commented May 4, 2018

  1. Bonus size. Normal bonus size as mentioned in SAFT if 20%, but you are able to get 30% if you will make a small review of the project. CEO of Heronode mentioned, that "cornerstone" investors had a 40% bonus, but not that option is closed. However, one public pool ( was able to get 42% bonus (Published on 3rd May, but i had a conversation with CEO at april 23th, so cornerstone investment option was already closed). So the question is, WHY the bonus size in totaly random?
    528014-overstock-ceo-patrick-byrne-3
    42342
    11111111
  2. Wird ethereum address - 0x397d36412317dFEC91Ef856BAE500A2c39582fB8. Transactions are comming out from ICO wallet to an exchanges wallets, and then comming back. What is the reason? Let's take a look on this 3 transactions. They send 1200 ETH from ICO wallet to their second wallet (0x2E3D104f8bC5a1EBb7d92AE7f4ABE15EFCC4eD9C) and then to exchange. After that, they are sending 1000 ETH from exchange to ICO wallet, and then again to their second wallet, then exchange. After that 1000 ETH dissapeared. The question is, what was the reason of that move?
    51
    53
    54
  3. Project hardcap is 15.000.000 USD, but it is very easy to get big allocation.
  4. Airdrop and bounties (it's just an assumption, we don't know exact numbers). As CEO said before, they allocated less than 0.1% of total token supply on airdrop and bounty programm. So, Hero node was airdropping 10 HER per each participant, there were at least 200.000 participants (according to their twitter). So, it's 10*200.000=2.000.000 HER + refferal programm + bounty, it's already more than 0.1% from total supply (I know that it's not such a big deal, 0.1% or 0.2%, but the question is, why did CEO lied to me?)
  5. Linkedin - two team members didn't mention the project on linkedin https://www.linkedin.com/in/john-patrick-mullin/
    https://www.linkedin.com/in/conghuiyang/
  6. Fenbushi capital didn't mention the project in their portfolio (Probably, they will do it later, but now they are not confirmed)
    opera _2018-05-04_041704_twitter com
@gpliu

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gpliu commented May 4, 2018

Haha, May be you can ask me directly.
TG @gpliu

@imivi52

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imivi52 commented May 5, 2018

Bonuses issue solved - difference was with discount/bonus rates. Some pools were "baiting" on bonus size, also pools were counting discount as a bonus rate. So 30% discount is 42.8% bonus

@imivi52

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imivi52 commented May 8, 2018

Hello! So here is p2 of investigation on Hero node. In previous post I mentioned problems with bonus size, transactions, etc.
So what changed? Nothing. About bonuses – issue was solved, but I still can’t understand how public pool can be a strategic partner and give project any publicity. Anyway GP answer about transactions on HERO-NODE ICO was literally this: “Hero node is my project and I can send ETH anywhere I want to” (Not exact answer, but close to this one, also the answer was given not to me directly, but to friend of mine, just FYI. Anyway, it doesn’t matter, coz we will talk about other things). Ok, let’s forget about previous red flags and move forward. The most interesting part started then I was trying to invest. Before sending funds, I decided to check SAFT one more time and noticed, that agreement isn’t signed from foundation side.
81
So, I tried to send them an e-mail to market@heronode.io to get signed SAFT, but didn’t got replied. That’s why I decided to talk with admin of Heronode and GP directly. First of all, I decided to talk with their admin AKA Nuclear Fission (@Nitroxen0n). So, first of all admin offered me to send a new contract (She didn’t realize that I already have one and offered to make a new one).
82
Then she called me via Telegram and we were discussing SAFT for a few min, during a call she said that agreement should be signed from their side (But I think that it was just misunderstanding, coz she was not from English-speaking country).
83
Anyway, then she told me that contract has been already signed. So I send her screen of my SAFT to check, and she told me that it’s a scam SAFT. I was like “Whaaat?”, coz I got my SAFT directly from GPliu.
545
After I told her that I got this SAFT from market@heronode.io she told me that the SAFT is still a scam (Coz the real one has GP’s signature on it) and sent me an example. Right after that I forwarded GP’s msg to her, to prove that he gave me that information, and she said, that “PRESALE IS CLOSED” (But as we remember at the start she offered me a new contract, so did the situation changed for a few minutes?!).
screenshot_1
After my question “How it’s possible, that official e-mail sending fake SAFTs?” she started to claim, that her colleague from heronode foundation was trying to scam me! (Bust we will figure out later, my SAFT was the real one LOL)
screenshot_3
And here come THE SURPRISE, AND # ADMIN STOLE 500 ETH IN TOTAL!! So please be aware, that someone stole 500 ETH from the project.
screenshot_4
Later we figured out, that my SAFT is the real one (Just compared ETH wallet from her and my SAFT). But my SAFT wasn’t signed from their side (Ok, it might be just someone small mistake).
screenshot_5
Cool, but after she offered my still to send ETH (Instead of other guy, SO WHAT THE HELL IS GOING ON IF ADMIN WANT TO MAKE A REFUND TO OTHER INVESTOR AND GIVE HIS ALLOCATION TO YOU LOL?!) (The story was that were was a guys, who sent only 180/300 ETH, so they offered me to fill 120 ETH, but right after offered to refund him 180 ETH and give me whole allocation (120+180 ETH). Also there a little bit more info about admin scammer.
screenshot_6
Just to confirm that she is an admin adding her pinned post in main heronode group
screenshot_7
Ok, so what is the conclusion? I would stay away from the project, a lot off “bad” things are around it. Btw, it would be cool, if GPLIU (CEO of heronode, who previously made a post here, pretending that he is ready to answer on all questions directly) would read his telegram, and didn’t ignore ppl (including me) who just wants to figure out the situation, coz I still didn’t got replied for a few days (question was about transactions on the HERO node wallet).
IT’S my personal opinion and the project might not be a scam (Probably it’s not), but I would stay away from it.

@icochecker icochecker added the Warning! label May 8, 2018

@Snake4life

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Snake4life commented May 11, 2018

lack of transparency, very high risk to invest, be warned!

nonsense answers on my question:

11
22

@imivi52

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imivi52 commented May 11, 2018

They also might keep only admin (That happened right after i send this page to GPliu), so now Nuclear Fission might be kicked out

@Snake4life

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Snake4life commented May 11, 2018

I have seen Nuclear Fission as an Admin some days ago, they might have kicked her because she "leaked" the info about the scam, they try to hide it

@NemyaNation

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NemyaNation commented May 11, 2018

Shame because the decentralized fog computing is new. Was excited about this project :(

@gpliu

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gpliu commented May 16, 2018

I will make everything transparent,I'm GP,also @gpliu directly

@gpliu

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gpliu commented May 16, 2018

One of our volunteer administrators did a really bad job on the project,I fired her,and announced many times in the group, But still some was scammed. I promised to help them.

@smartins

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smartins commented May 16, 2018

Volunteer administrator? Really? You trust someone who you are not paying or compensating to have an admin status and handle sensitive matters? How can projects be raising millions of dollars and be so cheap as to not properly vet and compensate those who help out with the ico?

@gpliu

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gpliu commented May 16, 2018

This was my fault. At the beginning of the project, I really needed a ‘time difference’ volunteer to help me delete advertisements and other news. When I discovered that she had contacted investors alone, we removed her and broadcast many times. I will still be responsible for this.

@jeffreyrufino

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jeffreyrufino commented May 19, 2018

Did they recover the stolen ETH?

@compfp

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compfp commented May 19, 2018

John Patrick does mention Hero Node. From his Linkedin profile:

image

@icochecker icochecker closed this Jul 6, 2018

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